Our finance writer, Mike Phipps channels his inner Sun Tzu to delve into the tactful art of avoiding war with body corporate committees, owners, and more.Read More →
Today we present the seventh in our series of analysis on the selling market for Management and Letting Rights (MLR). We have been collating this data quarterly since June 2017 and the following is a broad summary; · Stock levels are continuing to slightly decrease from our January 2019 update. · This has largely been in the holiday space, with permanents increasing. · The average listing period of all buildings has been 72 days in the last quarter. With an additional 90-100 to complete settlement. · There is about 0.1x lower multiplier for Standard Agreements over Accommodation Agreements. There is the full detail and some simple graphs byRead More →
Most accommodation business owners eventually reach a point in their careers when they consider selling the business so they can enjoy the fruits of their hard work. If you are at this point yourself, now could be a good time to sell. The job market has cooled down so more people are looking to control their own destinies by running their own businesses. The trick when you have an accommodation business for sale is to make your business the most attractive option for people wanting to make a purchase. So, how can you do this? Follow these three essential tips for selling a motel, caravanRead More →
One of North Queensland’s premier boutique hotels has put its management rights up for sale with price expectations of up to $6 million for the high-performing property. [ View this Port Douglas Management-Rights ] The Port Douglas Peninsula Boutique Hotel, an adults-only retreat on the beachfront at Four Mile Beach, generates an outstanding net annual income of more than a million dollars through its luxury suites and popular restaurant. With 33 newly decorated one-bedroom suites featuring beautifully furnished interiors with magnificent ocean and pool views from private balconies, the Peninsula Boutique Hotel boasts a high occupancy rate of 80 percent. ResortBrokers Australia North Queensland specialistRead More →
The secret to driving up your Trip Advisor ranking up is by getting your most satisfied guests to post a review. If you don’t have an automated feedback system that allows quick responses back to the guest, a senior person such as the FOM should be writing back to these guest via a well as a written email, providing the link to your Trip Advisor Page and offering personal assistance with their next stay. Out of 10 guests that you will email a follow-up thank-you and suggestion to post a review, about 3 or 4 will actually post because you have simply asked the question.Read More →
As accommodation industry professionals we are all in the people business. Our clients are people, our owners, tenants, landlords and committee members are people and our guests are, for the most part, people. Yes, the pet friendly resort is on the rise but let’s stick with people for now. As people in a people business I would argue that our greatest asset is our ability to communicate effectively. In recent years the explosion in social media use combined with the myriad nonverbal, non-personal forms of communication at our disposal is resulting in more communication than ever before. Social Media users in Australia are some ofRead More →
Even a casual observer of the Industrial Law landscape in the post-Work Choices era, will recognise the diversity of employment options that now prevail in modern workplaces. Part of this has been a consequence of the increasing casualisation of the Australian workforce. This was seen by the Fair Work Commission as a necessary counter-balance to the rights of workers that were gradually being eroded through the trend of casualisation. However, the modern Industrial Law landscape has nevertheless provided certain benefits for employees, through the Modern Award system, and through the evolution of the National Employment Standards (NES). Modern Awards contain a generic or template AwardRead More →
The question about how to adjust contribution schedule lot entitlements (‘the CSLE’) that has been kicking around strataland since September 2012 has finally been put to rest. The complete article we wrote on the issue at the time is here. In practical terms, no one will be able to adjust the CSLE unless there is a resolution without dissent at a general meeting. This is a resolution which no one votes against (as opposed to one which everyone votes for). Any CLSE adjustment means that some levies will go up and others will go down because the body corporate budget never changes. What adjusting lot entitlementsRead More →
Before you read any further it’s important that you take the time to dial up Bobby McFerrin on You Tube and get into the reggae groove. The following will simply not work otherwise! Here’s a little song I wrote You might want to sing it note for note Don’t worry, be happy Some say credit crunch I say bugger that, let’s do a long lunch Don’t worry, be happy In your loan application, there is some trouble Royal Commission might make it double Don’t Worry, Be Happy Ain’t got no cash or equity You can always call on me Don’t worry, be happy. With apologiesRead More →
Are you considering the purchase of a management rights business? The REIQ will be hosting a “Buyers Seminar” specifically aimed at individuals who are looking at the purchase of management rights in Queensland. (Not a sales seminar) The Real Estate Institute of Queensland has long standing relationships with specific stakeholders within this niche model. Be informed by this top line up of industry experts specializing in the Management Rights/Resident Letting space. REIQ – Gold Coast 11 May 2019 8.45am to 12.00pm L3 – 26 Marine Parade, Southport $20 per person We will give you an informative overview on; – Legal – Accounting – Financing – Licensing – Real Estate There willRead More →
ADVERTISMENT: